Taiwan must scale up its largest asset managers if it hopes to compete as a regional financial hub against international rivals, according to the top financial regulator.
The island¡¯s $630 billion asset management industry needs to harness Taiwan¡¯s dominance in the global technology sector and leverage the deep capital pools of domestic financial conglomerates to rapidly build scale, Peng Jin-lung, chairman of the Financial Supervisory Commission, said in a Thursday interview.
¡°If Taiwan does not develop multiple asset management firms with sufficient scale, it will be difficult to compete internationally,¡± Peng said. ¡°That limits our ability to promote Taiwan¡¯s investment opportunities around the world.¡±
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